On the doorstep of corn and soybean harvests, farmer selling across the country remains very limited. There are several reasons why.On the doorstep of corn and soybean harvests, farmer selling across the country remains very limited. Not only are futures markets for corn, soybean and wheat weak, so are basis levels. That is a very bad combination for a farmer on the eve of what the USDA says will be a very big corn and soybean harvest.The spring wheat and winter wheat harvests are now finished. Those crops are under cover, and it is doubtful that farmers will be anxious to sell much for the next several months for a number of reasons, including the following:
Minneapolis futures have dropped more than $2.00/bushel since the 5 July spike...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...